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Laxmi Dental, a leading manufacturer of dental products in India, has successfully raised over ₹314 crore from marquee anchor investors ahead of its much-anticipated ₹698 crore Initial Public Offering (IPO). The company allocated 19,68,700 equity shares to prominent institutional investors at ₹1,353 per share, the upper end of its price band.
Anchor Investor Details
Some of the biggest names in global and domestic investment participated in the anchor book, reflecting strong investor confidence in Laxmi Dental’s growth prospects. Key participants included Abu Dhabi Investment Authority, Goldman Sachs, Nomura, and several mutual funds, insurance companies, and pension funds. This strategic investment provides a strong foundation for the company’s IPO and underlines its credibility in the market.
IPO Timeline and Price Band
The public offering is set to open for subscription on January 12, 2025, and will close on January 15, 2025. The price band for the IPO has been fixed between ₹1,343 and ₹1,353 per share, with investors required to bid for a minimum lot size of 11 equity shares and multiples thereof.
Objectives of the IPO
The company plans to utilize the funds raised from the IPO for multiple strategic purposes, including:
• Debt Reduction: A portion of the proceeds will be used to repay outstanding borrowings, improving the company’s financial health.
• Expansion Projects: Investment in setting up new manufacturing facilities to enhance production capacity and meet the rising demand for its dental products.
• General Corporate Purposes: Supporting operational efficiencies and future growth initiatives.
Company Background
Laxmi Dental is a prominent player in the dental products industry, offering a wide range of solutions for oral healthcare professionals. With a reputation for high-quality manufacturing and a diversified product portfolio, the company has established itself as a key supplier to both domestic and international markets. The IPO marks a significant milestone in its growth trajectory, enabling it to further strengthen its market position.
Investor Outlook
Market analysts view the IPO as a lucrative opportunity, given the company’s robust financials, strong market presence, and ambitious expansion plans. The participation of leading anchor investors underscores the growth potential of Laxmi Dental in the evolving dental care market.
Also Read: https://smestreet.in/sectors/laxmi-dental-ipo-details-price-band-bid-lot-listing-plan-8603634